NO! You Didn't, Did You? FINAL CHAPTER

By
Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

Burning BridgesNO! You Didn't, Did You? tells of my recent escapade with a nasty little lender who was absolutely the most unprofessional person that I've ever worked with.  In case you haven't read the post--that statement pretty much sums it up!

Forward to the week of Closing:  

5 days prior to ClosingNo appraisal has been ordered, nor has the loan application been submitted.  After MY phoning to inquire as to whether or not the property appraised, the lender tells me that she hasn't ordered one yet!  After a very  patient conversation, I convince her that both of these tasks need to be done by days' end or we MUST return back to the original lender to get this loan closed on time.  I receive a call from the appraiser saying that she has an 'emergency appraisal' to do that afternoon and could I get that scheduled right away!  ABSOLUTELY and I did and we came in over Contract price!

4 days prior to Closing:  I receive a nasty call from the lender saying that MY attorney (the Buyer's attorney, actually) is not answering her calls and she MUST have HER attorney take over this transaction because he can do a 15-minute title search so that she can submit her package.   I told her to give me five minutes to consult the attorney that had already been hired to Close this deal and see if I can get the title work over to her.  One minute later I was speaking to the paralegal who said that I must be calling about the Jones Closing that the 'extremely rude' lender had phoned her about 15 minutes prior!  YEP, that's right, she had JUST phoned the attorney--yet another forgotten task of hers that she was putting off as someone else's fault.  As a matter-of-fact, the attorney HAD ordered the title work and it HAD been done but, the lender had not submitted the Title Request and the attorney would not release the docs until that was received.  Furthermore, do YOU want a title search done on your property that has only taken 15 minutes to research?  

3 days prior to Closing:  Lender does not return ANYONE's phone calls--not the attorney, paralegal, listing agent, buyer's agent, nor the BUYER!  We're all wondering if this thing is going to Close or if the lender has fallen off the face of the earth (Please, just wait until AFTER Closing to do that!)

Day before Closing:  Lender says the package will be there to meet the 24-hour HUD-1 deadline and there are NO problems--She further adds:  "Your client has TONS of  money and could pay cash for this _________ house, I don't know why all of you have such an impatient attitude with me!!  You're all rude and I've never worked with such hateful people in my life!"   Let me add this--I was SUGAR sweet to this girl after our first confrontation because I had the interest of the BUYER in mind and did not want to jeopardize this Closing in the event she decided to be vindictive.  So, I had no idea why she was shouting and cursing at ME!

Closing Day:  Here we are, a.m. of Closing at 11:00--no package and no answer of the phone or email.  Again, we're all just rocking back and forth, praying that this thing is going to finally END!  To sum it up, we FINALLY received a package at 2:00 which was quickly rescinded and a  new one issued at 3:00.  This was repeated 4, yes, FOUR times!  We walked out of Closing at 6:30. She made 4 different mistakes that had to be corrected and she didn't even bother to apologize--AT ALL!

I have to say, we had 7-1/2 hours (take or give 45 minutes for the actual signing) to sit and get the lender-bashing out of our systems!!  We have not yet decided how to handle this as she is really not held accountable by anyone and she has the audacity to let us know via the paralegal that she will never work with any of us again!!  We all got a charge out of that--because, I don't think she has anything to worry about!

The Deed could not be recorded as it was supposed to be on Friday but, my client was allowed to move in this weekend.  Our attorney was phoenominal and we're all just grateful to have this deal over and done with!!

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Rainer
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Nadine Blakely
RE/MAX 1st Olympic - Lynchburg, VA
Wow, Debe!  I've been keeping up with your fiasco, and I am glad to see that it has indeed ended.  Hope everything is funded, and the deed is recorded Monday so you can put this one to BED!  Did anyone find out just how long the lender has been in business?  Where DID they find her?  Sad for her future in the business, bad news travels FAST!   Posted B: Nadine Blakely, Lynchburg, VA,  RE/MAX 1st Olympic 
Apr 05, 2008 04:34 PM #1
Rainer
5,518
Nadine Blakely
RE/MAX 1st Olympic - Lynchburg, VA
Wow, Debe!  I've been keeping up with your fiasco, and I am glad to see that it has indeed ended.  Hope everything is funded, and the deed is recorded Monday so you can put this one to BED!  Did anyone find out just how long the lender has been in business?  Where DID they find her?  Sad for her future in the business, bad news travels FAST!   Posted B: Nadine Blakely, Lynchburg, VA,  RE/MAX 1st Olympic 
Apr 05, 2008 04:34 PM #2
Rainer
5,518
Nadine Blakely
RE/MAX 1st Olympic - Lynchburg, VA
Wow, Debe!  I've been keeping up with your fiasco, and I am glad to see that it has indeed ended.  Hope everything is funded, and the deed is recorded Monday so you can put this one to BED!  Did anyone find out just how long the lender has been in business?  Where DID they find her?  Sad for her future in the business, bad news travels FAST!   Posted B: Nadine Blakely, Lynchburg, VA,  RE/MAX 1st Olympic 
Apr 05, 2008 04:35 PM #3
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Jesse & Kathy Clifton
Jesse Clifton & Associates, REALTORS® - Fairbanks, AK
Retired
Debe - That's quite the nightmare real estate transaction.  Tell you what; we've got a couple of lenders here that need to be shot over to the blue side of the moon... wanna make it a trip for 3? :)
Apr 05, 2008 05:08 PM #4
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Nadine:  Yes, we're finally dozing off on this one!!  We should be completely through with it on Monday!  The Buyer found her through a family friend.  We don't know how long she has been in business though.  And, don't worry, the news is ALREADY out--in several offices in Charlotte!!  The other agent and I don't want ANYONE to have to go through what we went through!

Jesse & Kathy:  How's Jesse?  Glad to see you back and posting those fab area blogs!  And, I'll buy the third ticket!!!--The attorney, paralegal, listing agent and buyer will probably chip in to send her in a first class seat!!!

 

Apr 05, 2008 05:40 PM #5
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Jesse & Kathy Clifton
Jesse Clifton & Associates, REALTORS® - Fairbanks, AK
Retired

Debe - I'm doing pretty well... my right hand is still pretty limited, but we're working on that. 

It's good to be back in the 'Rain... even if the boss is keeping me on a short leash. :)

Apr 05, 2008 07:27 PM #6
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Jesse:  SO glad to hear that you're doing well--just do your physical therapy and that hand will be back before you know it!  And, remember to listen to the 'boss'--she know best!

    

Apr 05, 2008 08:32 PM #8
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53,248
Marlene Scheffer
Realty Station - Bremerton, WA
Realtor to Kitsap County, WA
Wow!  Start with the BBB...  Is the lender required to be licensed on your state?  I know they are here and in CA....
Apr 05, 2008 08:51 PM #9
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Nannette Turner
Keller Williams Lynchburg - Lynchburg, VA
Online Marketing Home Ownership Advocate Specialis
Debe bravo on your professionalism!  Keeping the drama from standing in the way of getting to settlement is why we are the real estate professionals.  Sounds like you and the listing agent were the only ones that had a clue how to get this transaction to the closing table.
Apr 06, 2008 09:29 AM #10
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Marlene:  The attorney is looking into what we can do--he suggested starting with the institution's manager and going from there.  We'll see!

Nannette:  Hey, it was VERY difficult--my tongue is in two halves from my multiple conversations with her!!  I refrained from involving my BIC because she really didn't need to step in since we had a pretty strong Plan B.  Thankfully we had a very understanding and patient attorney who stuck by this very tiring process with this horrible lender!  Had he been one that worked in a 'production' Closing office, I fear that we would not have Closed on Friday at all.

 

Apr 06, 2008 10:10 AM #11
Rainmaker
889,462
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT
Debe, What a nightmare!  I've had some bad situations with lenders, but it was mostly due to the everchanging mortgage situation and underwriting, not to incompetence.  It sounds like this lender doesn't plan to be in this line of work very long.
Apr 28, 2008 04:32 PM #12
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Gail:  It was a nightmare but, we did survive and thankfully, it's over!  I've had a couple of Buyers this last week that wanted to use their lender and I actually begged them to give mine a chance at a GFE so that they could compare.  I know that mine will give them great rates and I also know that any of them will CLOSE the deal with ease!

Apr 28, 2008 10:50 PM #13
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